Brussels: Energy Minister Michalis Damianos expressed the readiness of the Cyprus Presidency to work towards a more substantive Energy Union in a doorstep statement before the EU Energy Council (TTE), the first since assuming his new portfolio. Damianos thanked the Danish Presidency 'for the excellent work it has carried out over the past few months.'
According to Cyprus News Agency, Damianos stated that as the incoming Presidency, Cyprus will work with determination to strengthen competitiveness, resilience, and strategic autonomy in the energy sector. He emphasized the importance of reducing energy prices for citizens, highlighting it as a central pillar of competitiveness. Damianos noted the significance of the 'EU Grids Package,' asserting that the energy crisis has demonstrated the need for collective action as a Union. He reiterated Cyprus' commitment to working towards a more substantive Energy Union.
At Monday's meeting, EU Energy Ministers are expected to reach a partial agreement on the Connecting Europe Facility (CEF) 2028-2034, which is part of the negotiations on the new post-2027 Multiannual Financial Framework. The CEF aims to provide the legal basis for investments in trans-European transport and energy networks, including cross-border renewable energy projects and military mobility. However, the agreement is described as 'partial,' as it excludes financial and horizontal issues, which are being discussed as part of the overall EU budget for 2028-2034.
In addition, Ministers will engage in a policy debate on the European Grids Package. This discussion will focus on modernizing and expanding European energy grids to support rapid electrification and ensure affordable, secure, and clean energy for citizens and businesses. The debate is expected to revolve around the main priorities, strategic objectives, and key measures of the package.